Thursday, April 22, 2021

India Introduces Trans-Shipment System To Boost Nepalese Trade

India began a new trans-shipment system to support the Nepal bound transit cargos from Kolkata. India’s significant move will reduce transit time and ensure the safety of consignments to boost bilateral trade.

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According to a statement issued by the Indian embassy in Kathmandu, Electronic Cargo Tracking System (ECTS) was introduced by the Central Board of Indirect Tax and Customs to facilitate the automating customs transit between the India and Nepal. This is a significant move to renew the Indian government commitment towards improving the transit facilities for Nepalese trade.

The Indian embassy informed through a statement by saying, “This modality has been introduced on a pilot basis on rail routes from Kolkata/Haldia to Birgunj via Raxaul LCS and Biratnagar via Bathnaha Railway Station and Jogbani LCS.”

“Under the new mechanism, the need for Nepalese traders to seek permission and file transit declaration is done away with,” the embassy said.

The Electronic Cargo Tracking System introduces the facility of sealing the containers using high-security electronic seals and also have tracking functionality embedded in them.

“This new modality would immensely benefit Nepalese traders as it would ensure safe and secure transit, simplified border formalities, reduction in transit time and transaction cost and improved shipment visibility”, the statement added.

In August 2018, a similar facility for Nepal-bound transit cargo was introduced on a trial basis from Vishakhapatnam port.

More News at EurAsian Times

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